The webinar, hosted in conjunction with the U.S. Department of Transportation (DOT), introduced the U.S. DOT’s Build America Bureau and shared how states can finance transportation projects through the new Rural Projects Initiative and other Bureau financing programs.
Rural communities often find it challenging to secure financing required to construct critical infrastructure projects, which are key to improving the economy and quality of life. The Department of Transportation’s Build America Bureau provides loans in support of a variety of transportation projects across the Nation, but now they offer loans that are more accessible to small communities through the Rural Project Initiative. Under this initiative, borrowers in a qualified rural area with an eligible surface transportation project can benefit from fixed interest rate, long term loans at a fraction of the market rate, along with relief from application fees, which often amount to hundreds of thousands of dollars.
- Garrett Eucalitto, Program Director, Environment, Energy & Transportation Division, National Governors Association
- Roger Bohnert, Director, Office of Outreach & Project Development, Build America Bureau, U.S. Department of Transportation